AWS offers several purchasing options to the customer and allow customers to choose the best option that fits their workload. Almost every customer goes for a mix of purchasing options, which allows you to save a lot and satisfy the workload requirements.
The EC2 instance purchasing options
On-demand
This is the first default option that usually customers start with on AWS. Under this purchasing option, you pay for the compute capacity by the hour with no long-term commitments. You spin up the EC2 instance when you need it and destroy it when you are done. You only get charged for the time that you use the compute capacity. This option is very attractive to support spiky workloads or when you do not have any clarity on the...